uk

European Lawmakers Ask UK to Reconsider Cap on Interchange Fees
European Lawmakers Ask UK to Reconsider Cap on Interchange Fees
December 12, 2024  |  Credit Cards

European lawmakers reportedly asked the United Kingdom’s Payment Systems Regulator (PSR) to reconsider its plans to restore a cap on interchange fees that was lifted...

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Basel Committee Debuts Credit Risk Guidelines for Banks
Basel Committee Debuts Credit Risk Guidelines for Banks
December 11, 2024  |  Banking

A global banking watchdog introduced new guidelines covering counterparty credit risk (CCR) management. The regulations issued by the Basel Committee on Banking Supervision replace the...

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Lawsuit Alleges UK’s FCA Unfairly Excluded Some Businesses From Compensation
Lawsuit Alleges UK’s FCA Unfairly Excluded Some Businesses From Compensation
December 10, 2024  |  Legal

A lawsuit in the United Kingdom alleges that the country’s Financial Conduct Authority (FCA) unfairly “shut out” some small businesses when compensating customers who were...

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Mastercard and Consumer Advocate Agree to Settle British Swipe Fee Lawsuit
Mastercard and Consumer Advocate Agree to Settle British Swipe Fee Lawsuit
December 03, 2024  |  Mastercard

Mastercard and a consumer advocate reportedly reached an agreement in principle to settle a long-running British lawsuit regarding card fees. The company and Walter Merricks announced...

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FCA Chief Appears to Pave Way for Shein UK IPO
FCA Chief Appears to Pave Way for Shein UK IPO
December 03, 2024  |  IPO

Great Britain’s financial regulator has reportedly opened the door for Shein to go public there. While not mentioning the eCommerce retailer by name, Nikhil Rathi, chief executive of...

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44% of UK Consumers Plan to Use Digital Wallets Beyond Payments
44% of UK Consumers Plan to Use Digital Wallets Beyond Payments
December 02, 2024  |  Consumer Insights

In recent years, digital wallets have become an essential tool for making online payments, but their uses are quickly expanding. In the U.K., nearly half...

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Bank of England Seeks Ability to Lend to Non-Bank Financial Institutions
Bank of England Seeks Ability to Lend to Non-Bank Financial Institutions
November 29, 2024  |  Economy

The Bank of England aims to develop the ability to lend to non-bank financial institutions (NBFIs). It is doing so to address potential liquidity challenges in...

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UK’s FCA Seeks Comments on Streamlining Investor Protection Rules
UK’s FCA Seeks Comments on Streamlining Investor Protection Rules
November 27, 2024  |  Regulation

The United Kingdom’s Financial Conduct Authority launched a consultation on proposals to transfer firm-facing requirements of the Markets in Financial Instruments Directive Organisational Regulation (MiFID...

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Worldpay Debuts Near-Instant Refund Tool for UK Shoppers
Worldpay Debuts Near-Instant Refund Tool for UK Shoppers
November 27, 2024  |  Faster Payments

Worldpay introduced what it called a “first-of-its-kind service” capable of delivering near-instant refunds. The refunds — the speed of which depends on the receiving financial...

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